Business, 23.11.2019 02:31 codycoker4200

Suppose the demand for wheat increased only slightly only slightly between 1950 and 2000 but the equilibrium quantity increased dramatically dramatically. absent any other changes, what could explain the large large increase in the equilibrium quantity? the equilibrium quantity of wheat could have increased dramatically dramatically given a slight slight increase in demand because
a. the income elasticity of demand is negative.
b. the cross-price elasticity of demand is positive.
c. supply is relatively elastic elastic.
d. the price elasticity of demand is infinite.
e. the price elasticity of supply is equal to zero zero.

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